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The Real Deal: Brooklyn’s Empty Shelves

The Real Deal // Aug 04, 2014

036-037 Brooklyn inventory se FINAL.indd

In the August issue of The Real Deal, Doug Bowen provides insight on the market Downtown and in Greenpoint. The article looks at bidding wars, all-cash offers, foreign buyers, off market deals and other telltale signs of New York City’s housing crunch which have dominated headlines in recent years. Inventory in Brooklyn, much like in Manhattan – and perhaps even more so, is on a steep decline. Neighborhoods like Red Hook, Prospect Heights, Fort Greene, and others are eclipsing demand of mainstays like Park Slope, Carroll Gardens and Williamsburg. The median house price in the borough is up, due to fewer houses on the market, which opens the door to developers to meet growing demand to live in the area.

Original Article: The Real Deal